Equity Profile

AU

AngloGold Ashanti plc

MaterialsGold$40.3B

Aug20Mon

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

AngloGold Ashanti plc is a global gold mining company focused on the exploration, mining, and production of gold. With a market cap of $40 billion, it operates in the materials sector, which is influenced by commodity prices, global economic conditions, and investor sentiment towards gold as a safe-haven asset.

Key Metrics to Watch

Gold Production

Gold production levels are crucial as they directly impact revenue and profitability.

N/A

Cost of Production

Understanding the cost structure helps assess profitability, especially in fluctuating gold price environments.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AU Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-60.90%

Avg Stock Reaction

+3.55%

Last Quarter Recap

In Q1-2026, AngloGold Ashanti reported an EPS of $2.52, surpassing estimates by 14%. The stock reacted positively, gaining 6.78% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are keenly watching AngloGold Ashanti's upcoming earnings for insights into production levels and cost management. Given the recent positive EPS surprise, there is cautious optimism.

Bull Case

If the company reports strong gold production and manages costs effectively, it could see significant stock appreciation as investors regain confidence.

Bear Case

Conversely, if production falls short or costs rise unexpectedly, it could lead to a negative reaction in the stock price, particularly given the high expectations set by the last quarter's performance.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected gold production for Q2-2026?

Production levels will significantly impact revenue and profitability, making this a key focus for investors.

How has the cost of production changed compared to previous quarters?

Understanding cost trends is critical for assessing the company's profitability in the current gold price environment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on production margins, which could lead to better-than-expected earnings.

Supporting Evidence

The last quarter showed a strong EPS surprise, indicating potential for continued performance.

Options pricing suggests a higher expected move, which may reflect underlying bullish sentiment.

Recent trends in gold prices have been favorable, which could positively impact margins.

Key Risk

If production costs rise unexpectedly, it could undermine the bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on balancing production levels and managing costs effectively amid fluctuating gold prices.

Bull Confirmed If

A gold production increase of over 5% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A cost of production increase exceeding 10% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.48%

Historical Avg

±4.4%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±10.5% while AU has averaged ±4.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

63.7%

Calls (178K)P/C Ratio: 0.32Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AngloGold Ashanti beats expectations, history suggests the stock could rise by about 2.86%, confirming positive market sentiment.

In-Line / Cautious

If results are in line but management expresses caution, the stock may see a muted reaction as investors reassess future growth.

Miss

A miss could lead to a decline of around 1.78%, reflecting disappointment in the market.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production targets for the upcoming quarter.
2Details on cost management strategies and their effectiveness.
3Insights into market demand for gold and pricing outlook.
4Any commentary on geopolitical factors affecting gold prices.
5Management's view on future exploration and expansion plans.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Aug20

ELReported

The EstÃ©e Lauder Companies Inc.

RecapView

Aug20

SSLBMO

Company Snapshot

Key Metrics to Watch

Gold Production

Gold production levels are crucial as they directly impact revenue and profitability.

N/A

Cost of Production

Understanding the cost structure helps assess profitability, especially in fluctuating gold price environments.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

AU Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-60.90%

Avg Stock Reaction

+3.55%

Last Quarter Recap

In Q1-2026, AngloGold Ashanti reported an EPS of $2.52, surpassing estimates by 14%. The stock reacted positively, gaining 6.78% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are keenly watching AngloGold Ashanti's upcoming earnings for insights into production levels and cost management. Given the recent positive EPS surprise, there is cautious optimism.

Bull Case

If the company reports strong gold production and manages costs effectively, it could see significant stock appreciation as investors regain confidence.

Bear Case

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected gold production for Q2-2026?

Production levels will significantly impact revenue and profitability, making this a key focus for investors.

How has the cost of production changed compared to previous quarters?

Understanding cost trends is critical for assessing the company's profitability in the current gold price environment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on production margins, which could lead to better-than-expected earnings.

Supporting Evidence

The last quarter showed a strong EPS surprise, indicating potential for continued performance.

Options pricing suggests a higher expected move, which may reflect underlying bullish sentiment.

Recent trends in gold prices have been favorable, which could positively impact margins.

Key Risk

If production costs rise unexpectedly, it could undermine the bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on balancing production levels and managing costs effectively amid fluctuating gold prices.

Bull Confirmed If

A gold production increase of over 5% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A cost of production increase exceeding 10% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.48%

Historical Avg

±4.4%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±10.5% while AU has averaged ±4.4% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

63.7%

Calls (178K)P/C Ratio: 0.32Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If AngloGold Ashanti beats expectations, history suggests the stock could rise by about 2.86%, confirming positive market sentiment.

In-Line / Cautious

If results are in line but management expresses caution, the stock may see a muted reaction as investors reassess future growth.

Miss

A miss could lead to a decline of around 1.78%, reflecting disappointment in the market.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production targets for the upcoming quarter.
2Details on cost management strategies and their effectiveness.
3Insights into market demand for gold and pricing outlook.
4Any commentary on geopolitical factors affecting gold prices.
5Management's view on future exploration and expansion plans.